USDC launches on Sei as Circle invests in layer 1 blockchain

• Layer 1 blockchain Sei welcomes USDC as Circle makes strategic funding
• USDC will present Sei builders and entrepreneurs entry to quick and instantaneous transaction settlements

Circle Ventures, the funding arm of USDC stablecoin issuer Circle, has made a strategic funding in Layer 1 blockchain Sei, the companies introduced on Wednesday.

The strategic funding contains “go-to-market recommendation round Circle’s stablecoin infrastructure,” the Sei crew famous. The stablecoin‘s integration may even see builders and entrepreneurs profit from USDC’s international, low cost and instantaneous transaction settlements when constructing and deploying merchandise.

It additionally means improved cross-border transactions and liquidity for customers and builders on the Sei community.

“The total Sei crew is thrilled to work strategically with Circle Ventures, to create model new use circumstances for USDC that leverage Sei’s infrastructure,” mentioned Samy Karim, director on the Sei Basis.

Karim famous that stablecoins are more and more essential for the general development of the crypto trade. Sei offers the scalable infrastructure wanted to accommodate this demand, he added.

USDC enlargement continues

Circle’s USDC is the second largest stablecoin out there behind USDT, and has seen important enlargement throughout the ecosystem. The stablecoin just lately expanded to Ethereum layer 2 community Optimism.

As CoinJournal reported in August, the partnership between Circle and Optimism introduced native USDC to the OP Mainnet, permitting for institutional on and off-ramps to and from the platform.

Sei, which formally launched its mainnet in August, raised $30 million in a spherical backed by Leap Crypto and Multicoin Capital in April. It additionally secured $50 million from crypto alternate Bitget and enterprise agency Foresight.